Economy
Important Qualities and Features to Look for When Choosing an Online Trading Broker
A large number of people turn to market investments to multiply their fortune, and why not? After all, haven’t we all heard stories of the fortunate few who have raked in millions while tossing in their beds?
It is hard to not get swayed away by prospects like that. But market investments, be it stocks, cryptocurrencies, or forex, come with their fair share of risks.
But as they say, risk comes from not knowing what you are doing. The investment business can be extremely rewarding, yet at the same time, very unforgiving as well.
Play your cards right and you could very well plan an early retirement, but put the wrong foot forward and you are bound to lose your balance.
Given the high risk that accompanies investment in online trading, it is important to arm yourself with the best tools possible. To be profitable in the online trading market, the first thing that you need to have is an online trading broker that is reliable, easy, and intuitive to use and aligns with your investment goals and style. There are various online trading brokers for you to choose from.
But you must be careful while making the decision. While not many, there are some brokers that tend to make a profit at the expense of clients. You just need to do a little research and you will find an ideal broker for you; one that serves your interests. Here are some important qualities and features to look for when choosing an online trading broker.
Availability of Investment Research
If you are new to the world of investments, this is one feature you can really benefit from. Truth be told, this feature is essential not just for beginners, but also for veterans. An investment broker that offers research papers for free can help reduce your trading expenses and at the same time help you make more informed decisions. While stock and mutual fund research can also be purchased, it can be quite expensive.
Quality of Customer Service
When it comes to online broker services, the quality of customer service is something that is often overlooked. Depending on what kind of asset you are trading on, your trading hours could be spread across the day and not just be limited to the opening bell and the closing bell of the stock market. While selecting an investment broker, it is important that you opt for one that offers excellent customer service round the clock. The customer services should be competent, efficient, and well trained
Regulations
The best way of judging the credibility and reliability of a broker is to look at the regulations and requirements that the broker adheres to. For instance, when it comes to cryptocurrency, the investment business remains largely unregulated. However, when it comes to forex, the brokers must be members of the National Futures Association and must strictly abide by its rules. The same applies to other investment platforms as well.
Website Interface
While using an online broker, the website of the broker is amongst the most important aspects that one must consider. Given that all your trade would be made via the website, it is important that the interface and the navigation of the website are intuitive and easy to understand.
You might end up selecting a broker with a lower cost per trade, but if the website of the broker is poorly designed, it would take longer to complete a trade and the extra effort required may not be worth the few bucks that you saved on the cost of a trade.
The experienced investors at https://www.trusted-broker-reviews.com/ic-markets/ suggest taking a free trial of the brokerage services before making a commitment. Various brokerage services offer such free demo accounts and these can go a long way in experiencing the broker first hand.
Types of Investment Options Available
To cement your position in the investment market, you need to diversify your investments. You should invest in different kinds of assets, from stocks to mutual funds, cryptocurrencies to forex. This helps you stay afloat even when the prices go down or the market hits a perigee. The ability to invest in different investment options is a great feature to have in online trading brokers.
Costs Involved
While selecting an online investment broker you must be careful of the various costs that you incur beyond the initial application fee. These costs are often difficult to identify while registering and you could be in for a rude awakening further down the line.
Cost Per Trade
Cost per trade is often used as a standard benchmark to compare the cost incurred while using different trading brokers. This is one aspect that can be easily quantified, which makes it a good way of comparing different brokers. While this might be a straightforward way of comparing brokers, there are various other costs that also must be considered and a low cost per trade may not exactly translate into a lower overall expenditure. For instance, if you invest exclusively in mutual funds, a low cost per trade would be pointless for you.
Initial Investment Required
More often than not, brokers require you to make a minimum initial investment, which can be thousands of dollars. If you are a newbie, investing such a large amount on the get-go doesn’t make sense and carries a huge risk. As a beginner, you should try and opt for a broker that either does not require any initial investment or at least limits it to a reasonable amount.
Making the right investments can help you make a notable profit, but at the same time, it can also be equally disastrous. The unpredictable nature of the value of such assets makes it important to make the right decisions at the right time. As such, choosing the best broker is important for your success as an investor.
There are various factors that must be considered while selecting the right broker for you; all the way from website layout and cost per trade to the investment options available and the statutes and regulations. Keep an eye out for these features and qualities, and you will be able to select a broker that suits you.
By Adedapo Adesanya
Global cryptocurrency platform, Luno, has launched a structured crypto prediction markets product in Nigeria, which will enable customers to apply their market knowledge to short-term crypto price events and earn USDC when their insights are correct.
The prediction market allows customers to express a view on whether the price of selected crypto assets, being BTC, ETH, SOL, DOGE, and XRP, will be above or below the daily price event. The market operates daily with clearly defined rules and settlement periods, offering customers structured, time-bound opportunities to act on their conviction.
Nigeria remains one of the most active crypto markets globally, with increasing demand for tools that combine simplicity and transparency. By introducing Prediction Markets focused solely on price levels, Luno aims to provide a fast, confident, and opportunity-forward format for market engagement.
Unlike traditional gaming or prediction firms like Polymarket and Kalshi, in which the odds are set by the company, Luno’s Prediction Market, powered by Limitless, is focused exclusively on crypto asset price movements within the Luno platform.
This means customers are not purchasing the underlying asset, but participating in a defined, outcome-based market that settles transparently based on real-time price data.
According to a statement, the launch reflects a broader shift in how customer behaviour is evolving in Nigeria’s growing crypto asset ecosystem, particularly as crypto asset adoption matures, many users are seeking more flexible and responsive ways to engage with markets beyond long-term holding or traditional spot trading.
Luno’s Prediction Markets product is designed to meet this demand within a familiar and regulated platform environment. The feature builds on how customers already interact with crypto asset prices – analysing charts, following market news, and forming views- and provides a structured framework for expressing those views.
According to Mr Ayotunde Alabi, chief executive of Luno Nigeria, the company is combining crypto education with a secure platform to help Nigerians confidently apply their market knowledge in a responsible and practical way.
“We are seeing a clear shift in how Nigerians want to engage with crypto assets. Many already follow price movements closely and form strong market views; we want to lead with education as well as provide a safe and secure platform to help them apply that knowledge. This feature is designed to be a natural extension for those who enjoy forecasting.
“By tying this to our ongoing educational initiatives, such as our scholarships with AltSchool, we are encouraging users to apply what they have learned about market analysis into a practical, responsible framework. Our priority is ensuring that where confidence meets opportunity, it is supported by the standards of trust our customers expect.”
Luno said it will further support the rollout with Learn & Earn educational content and tutorials explaining market mechanics and price determination. To promote informed decision-making and ensure the product is used responsibly,
Luno has embedded specific controls, including customers reading and acknowledging a risk disclosure before participating, as well as moving funds from their ordinary USDC wallet to a separate prediction wallet, which will be used to participate in prediction markets.
The firm also said that customers cannot hold both sides of the same market, in this case, Above and Below at the same time.
By Adedapo Adesanya
The Nigerian capital market will transition to a T+1 settlement cycle from May 29, as part of efforts to enhance efficiency and align with global standards, the Central Securities Clearing System (CSCS) Plc said in a notice.
If this is achieved, it would be about six months after the Nigerian central depository, clearing, and settlement agent switched to a T+2 settlement cycle from the previous T+3 cycle. The previous transitioning was precisely on November 28, 2025.
This switch will shorten the settlement period for trades, allowing transactions to be completed one business day after the execution date, instead of the current two-day cycle.
CSCS Plc, in the disclosure, said the move represents the next phase in the development of Nigeria’s capital market infrastructure.
It stated that the new settlement cycle is expected to improve post-trade efficiency, reduce settlement risk and speed up the movement of securities and funds across the capital market.
The company added that trades executed on Thursday, May 28, the final trading day under the T+2 cycle, and those executed on Friday, May 29, the first trading day under the T+1 cycle, would both settle on Monday, June 1.
“This transition requires coordinated readiness across all market participants, including exchanges, brokers, custodians, registrars, settlement banks and institutional investors.
“Industry-wide engagements and technical readiness initiatives are ongoing to ensure a seamless transition.
“All market participants are encouraged to review their internal processes, systems and operational workflows to ensure alignment with the new settlement framework,” the company stated.
After the T+2 settlement cycle went live last year, the erstwhile chief executive of the company, Mr Haruna Jalo-Waziri, at the time said CSCS Plc is already preparing to shift to a T+1 settlement cycle by mid-2026.
Mr Kalo-Waziri, who has since been replaced by Mr Shehu Yahaya Shantali, said the organisation had been strengthening its capacity over time, ensuring that the eventual migration would be efficient, stable, and cost-effective, stressing that the transition aligns with global best practices and reflects the market’s readiness for faster, more reliable settlement processes.
By Adedapo Adesanya
The duo of FrieslandCampina Wamco Nigeria Plc and Geo-Fluids Plc weakened the NASD Over-the-Counter (OTC) Securities Exchange by 0.12 per cent on Monday, March 16.
FrieslandCampina Wamco Nigeria Plc lost N1.45 during the session to sell at N123.55 per share versus the previous price of N125.00 per share, and Geo Fluids Plc depreciated by 5 Kobo to N3.05 per unit from N3.10 per unit.
The losses recorded by the two securities lowered the market capitalisation by N8.88 billion to N2.480 trillion from N2.489 trillion, and crashed the NASD Unlisted Security Index (NSI) by 14.86 points to 4,145.60 points from 4,160.46 points.
On the first trading day of the week, the value of securities transacted by investors went up by 10.8 per cent to N33.2 million from N29.9 million, but the volume of securities dipped 97.5 per cent to 265,610 units from 10.4 million units, and the number of deals decreased by 43.5 per cent to 26 deals from 46 deals.
At the close of trades, Central Securities Clearing System (CSCS) Plc was the most active stock by value on a year-to-date basis with 38.6 million units sold for N2.4 billion, followed by Okitipupa Plc with 6.4 million units traded for N1.2 billion, and FrieslandCampina Wamco Nigeria Plc with 6.5 million units worth N609.6 million.
Resourcery Plc closed the day as the most traded stock by volume on a year-to-date basis with 1.1 billion units valued at N415.6 million, trailed by Geo-Fluids Plc with 130.8 million units transacted for N504.5 million, and CSCS Plc with 38.6 million units exchanged for N2.4 billion.
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